@techreport{Nunnenkamp1998Boom,
abstract = {Politicians in Asia and some economists contend that developing countries are at
the mercy of the rapidly changing winds blowing from international capital
markets. We are indeed witnessing another episode of volatility in capital flows,
with foreign investors suddenly fleeing emerging markets in Asia. However,
speculative attacks are a symptom, rather than the cause of financial turbulences
and currency crises in developing countries. In the era of globalization, policy
consistency and government credibility have become still more important for
sustaining external financing. South Asia would be ill - advised to forgo the
benefits of capital inflows in order to avoid the risk of subsequent outflows.
Rather, South Asian governments should not repeat the economic policy failures
that are underlying the recent crises in Latin America and East Asia.},
address = {Kiel},
author = {Peter Nunnenkamp},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {F20; F43; 330; Internationale Kapitalmobilit\"{a}t; Direktinvestition; Entwicklungskonvergenz; Wirtschaftspolitik; W\"{a}hrungspolitik; Glaubw\"{u}rdigkeit; Institutionalismus; Entwicklungsl\"{a}nder; S\"{u}dasien},
language = {eng},
number = {853},
publisher = {Kiel Institute for the World Economy (IfW)},
title = {Boom and bust in capital flows to developing countries : what South Asia can learn from recent financial crises},
type = {Kiel Working Papers},
url = {http://hdl.handle.net/10419/1005},
year = {1998}
}
